Office of the Press Secretary
(New York, New York)
________________________________________________________________________
For Immediate Release September 21, 1999

PRESIDENT CLINTON NAMES GREGORY A. BAERAS ASSISTANT SECRETARY FOR FINANCIAL INSTITUTIONS AT THE DEPARTMENT OF

TREASURY

President Clinton announced today his intention to nominate Gregory
A. Baer to be Assistant Secretary for Financial Institutions at the
Department of Treasury.

Mr. Gregory Baer, of Alexandria, Virginia, was appointed Deputy
Assistant Secretary for Financial Institutions Policy on October 21,
1997. In this position, Mr. Baer assists the Assistant Secretary for
Financial Institutions and the Under Secretary for Domestic Finance on a
broad range of legislative and policy maters affecting the nation's
financial services industry. He supervises the development of policies
relating to the legal and regulatory framework for the financial
services industry, government sponsored enterprises, consumer financial
protection, and the deposit insurance funds. Mr. Baer also participates
in interagency efforts to develop policies for electronic money and
banking. From 1990 to 1997, Mr. Baer was with the Federal Reserve
System in Washington, D.C., rising to the rank of Managing Senior
Counsel. He performed special projects for the General Counsel, the
Board, and the Federal Open Market Commission, including supervising the
1996 proposals regarding the authority of bank holding companies to
engage in underwriting and dealing activities under section 20 of the
Glass-Steagall Act. Prior to that, Mr. Baer was an Associate engaged in
the litigation practice at the law firm of Williams & Connolly in
Washington, D.C.

Mr. Baer graduated cum laude from Harvard Law School in 1987 where
he served as Managing Editor of the Harvard Law Review. He graduated
with honors from the University of North Carolina at Chapel Hill in 1984
with an A.B. in political science. He is originally from Charlotte,
North Carolina.

The Assistant Secretary for Financial Institutions advises the
Secretary, the Deputy Secretary on all matters relating to financial
institutions. In addition, the Assistant Secretary directs policy on
proposed legislation concerning the regulation of private financial
intermediaries and government sponsored enterprises.